Samantha89 Posted August 24, 2010 Share Posted August 24, 2010 This article from the Daily Mail highlights the answers to a couple of questions above http://www.dailymail.co.uk/money/article-1300053/Where-deals-holiday-money.html?ito=feeds-newsxml There is a range of alternative cards to Nationwide and it look like if you use a Caxton fx card then your money is protected. Link to comment Share on other sites More sharing options...
Gardengirl Posted August 24, 2010 Share Posted August 24, 2010 Cathy, I've just seen your post; here is the website for the Caxton FX card: https://www.caxtonfxcard.com/It would seem to suit us very well when Nationwide goes it's own way. [:)]The risk with it is if it's lost, as anyone could get at the money in the account. However, we're very careful with cards anyway, and only plan to use this one for Ryanair and for ATMs, so it won't be carried around daily. It was interesting that security we use on other accounts wasn't acceptable for this card, as it required something longer, and the security level was shown on screen as it was typed in.There's some interesting reading on the left if you go into more than the home page (eg 'security'); we didn't know one or two things they mention!When taking a card out, you need to pay in a small amount. I transferred money on to it recently while the rate was good; my account was credited within a fairly short time, but interestingly didn't come out of the UK bank account for a couple of days. [:)] Link to comment Share on other sites More sharing options...
Albert the InfoGipsy Posted August 24, 2010 Share Posted August 24, 2010 I've just been on the Caxton site and they are offering a £/€ rate of 1.1975. This compares with the inter-bank rate on the BBC Market Data page of 1.2191. Whenever I draw using my NW card I get the inter-bank rate, so the Caxton rate seems to be at least 2% worse than the NW one. As I generally use my NW card in ATMs to move £300 chunks of money I'd get €359.25 from Caxton or €365.73 from NW. The difference of €6.48 (£5.31 at NW's rate) means the marginal extra cost of paying the £7 (2% + £1) NW charge is £1.69. This is so low as to make the extra effort involved in operating a Caxton account unattractive in my opinion. Your attitudes might differ. Link to comment Share on other sites More sharing options...
Chancer Posted August 24, 2010 Author Share Posted August 24, 2010 Thank you very much for posting the calculation Albert.I had been pondering the subject for some while but did not have the info on what rates are actually used to do the calculation, now i dont have to [:)]I agree with you re the marginal cost, in any case laziness and loyalty to Nationwide would have meant I bit the bullet anyway. Link to comment Share on other sites More sharing options...
Gardengirl Posted August 24, 2010 Share Posted August 24, 2010 OH had worked it out as something similar, but I believe there's also a £1 charge on each transaction with Nationwide too. But as we'll also be using it for 3 return flights with Ryanair each year, we'll also save those charges. Link to comment Share on other sites More sharing options...
Chancer Posted August 24, 2010 Author Share Posted August 24, 2010 The following may change the views of those of you that think writing to complain will have an effect and that the NW should consider the effect of losing older faithfull investors.http://www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1592We ain't not got the right lifestyle like, - innit [:P] Link to comment Share on other sites More sharing options...
Chancer Posted August 24, 2010 Author Share Posted August 24, 2010 Actually I think that I will write to them, to tell them that they could save even more money by reworking their slogan NATIONWIDE, PROUD TO NO LONGER BE ANY DIFFERENT! Link to comment Share on other sites More sharing options...
mint Posted August 24, 2010 Share Posted August 24, 2010 Chance, thanks for posting that information.As one of the Dragons in the Den might put it: I'm out! Link to comment Share on other sites More sharing options...
Russethouse Posted August 24, 2010 Share Posted August 24, 2010 Looking at the items offered to 16 - 24 year olds I doubt very much if they cost the NW much or maybe anything - most of them seem to be inducements where an offer such as NW are making is going to bring in more business for the company they are hooked up with, where as it seems letting NW customers withdraw funds in Europe FOC carried a real cost.Seems pretty obvious where they want to target their business Link to comment Share on other sites More sharing options...
Chancer Posted August 24, 2010 Author Share Posted August 24, 2010 Tout à fait!People who's accounts are always keep in good standing dont make the banks any money.We tore the bottom out of it and only have ourselves to blame.Still I can stay with them as I was a spotty yoof of 14 when I firt opened my savings account, was less than 24 when I opened my Flex Account and havnt aged or grown up since then.I wonder if I can score a NW baseball hat to wear backwards? Link to comment Share on other sites More sharing options...
Gardengirl Posted August 25, 2010 Share Posted August 25, 2010 Will you wear it on top of your hard hat when busy on your property Chancer? [:)] Link to comment Share on other sites More sharing options...
DerekJ Posted August 25, 2010 Share Posted August 25, 2010 I've only just heard about this after a six week sojourn in France and have been dong a bit of investigating...I've come across this a solution that someone I vaguely know uses.A Santander Zero CREDIT CARD. Apparently no fees or charges at cashpoints and the interbank rate used. The person I heard this from preloads a credit balance on the card before travelling thus avoiding interest charges providing he doesn't exceed the preloaded amount. This sounds like it would work. Any thoughts? I need to investigate more. Link to comment Share on other sites More sharing options...
Pickles Posted August 25, 2010 Share Posted August 25, 2010 [quote user="DerekJ"]A Santander Zero CREDIT CARD. Apparently no fees or charges at cashpoints and the interbank rate used. The person I heard this from preloads a credit balance on the card before travelling thus avoiding interest charges providing he doesn't exceed the preloaded amount. This sounds like it would work. Any thoughts? I need to investigate more.[/quote]Just be aware that Santander seems to appear far more than others in respect of complaints investigated by the various newspaper consumer champions. Other than that, it seems a good proposition.RegardsPickles Link to comment Share on other sites More sharing options...
curios Posted September 14, 2010 Share Posted September 14, 2010 Nationwide chief executive shuts down email address, Guardian http://tinyurl.com/nationwideguardianFrustrated? Angry? Then bypass the usual route and go straight to the boss, Timeshttp://www.ceoemail.com/times.pdfComplain by email, just not to Nationwide boss, Evening Standardhttp://tinyurl.com/nationwideesApparently the Nationwide CEO has just opened a new e-mail address and is now listening again. Please contact [edited by the moderators] to tell him that you're not happy about the proposed changes to the FlexAccount. Post edited by the moderators. Link to comment Share on other sites More sharing options...
Baz Posted September 14, 2010 Share Posted September 14, 2010 [quote user="curios"]Frustrated? Angry? Then bypass the usual route and go straight to the boss, Timeshttp://www.ceoemail.com/times.pdf[/quote]Curios, welcome to the forum.Thanks for a very informative site http://www.ceoemail.com/ one never knows when it will be useful, it is now in my favourites.Baz Link to comment Share on other sites More sharing options...
Théière Posted September 15, 2010 Share Posted September 15, 2010 Remember we can vote people out of their positions at the AGM so don't close your accounts just reduce the balances as the services could be brought back at a later date. There are always a couple of people on boards who don't agree the the majority vote. I don't agree we have ripped anything from anywhere, NW advertised free withdrawals abroad, if they hadn't then the number of people opening accounts would not have been as high, so someone got their bonus for hitting target customer numbers. Although not a bank they have almost the same arrogance once the number of account holders hits "target" I feel we need more than just the CEO's email, the other board members may not go along with the CEO who may just delete emails. Link to comment Share on other sites More sharing options...
AnOther Posted September 15, 2010 Share Posted September 15, 2010 This just rumbles on doesn't it.I fired off an email to the CEO yesterday and today got this email response:Dear Mr *******Thank you for your email, addressed to Graham Beale, our Chief Executive.We are sorry to learn of your concerns, and will ensure you receive a response very shortly. In order that we may arrange this, would you please be so kind as to telephone Vicky Emery on 01604 854374 to provide further contact details or account information. Following which, we will ensure you receive a response very shortly.Basically she needed me to positively identify myself (good old data protection act) as obviously I had not given my full account details in what was essentially an open email.In the course of the conversation I did mention that I thought NW had no idea how widespread the ill feeling and anger to their proposed changes was but she seemed oblivious of what I was referring to, not a good sign, but then again I doubt she's front office or customer facing.I have deliberately left her name and number in there in case anyone else is minded to give here a call on their own account, so to speak [;-)] Link to comment Share on other sites More sharing options...
mona Posted September 15, 2010 Share Posted September 15, 2010 Just thought i'd update you. I wrote to the chief exec personally to ensure he was aware of the degree of anger caused by the changed terms for use of ATM's abroad. He didn't have the courtesy to respond but shunted off the letter to someone else who sent the usual guff and ***p about the travel insurance being a benefit for most customers. I 'd earlier been offered the opportunity to complain via the FSA but felt there was no point since N'wide undoubtedly has something in their small print allowing it to change terms and conditions as it fancies.I think we should just keep on complaining. They've probably bargained for a certain number of complaints for a certain period but if we keep it up I still like to think we might stand a chance of getting them to moderate the change.I suggested that they could consider retaining the exisiting terms for existing customers and offer them the choice of taking the travel insurance instead or offer a range of alternative benefits. They didn't even deign to comment on this.Perhaps whoever has Graham Beale's email address could share with with the rest of us so we can all email him and copy in VIcky Emery. We could then post a copy of the email here and get a sense of the numbers complaining so that they can't pretend it's a small minority.I wonder if we can ask how many complaints they've had under Freedom of Information legislation Link to comment Share on other sites More sharing options...
Baz Posted September 15, 2010 Share Posted September 15, 2010 [quote user="mona"]Perhaps whoever has Graham Beale's email address could share with with the rest of us so we can all email him and copy in VIcky Emery. We could then post a copy of the email here and get a sense of the numbers complaining so that they can't pretend it's a small minority.[/quote]Post edited by the moderators.Baz Link to comment Share on other sites More sharing options...
AnOther Posted September 15, 2010 Share Posted September 15, 2010 I got it from Baz's link http://www.ceoemail.comThe email asking me to phone them came from a Jane Print [edited by the moderators] who I guess is closer to Mr Beale and possibly screens his mail.I think we can all enjoy a schadenfreude moment at Mr Beales expense having collectively caused him the inconvenience of changing his email address, hopefully this new one will soon become equally overloaded, te he he [:P]Post edited by the moderators. Link to comment Share on other sites More sharing options...
Théière Posted September 15, 2010 Share Posted September 15, 2010 It's those stupid adverts that drive me mad, wasting money on those whilst penny pinching on overseas withdrawals which customers actually want. [6] Link to comment Share on other sites More sharing options...
AnOther Posted September 15, 2010 Share Posted September 15, 2010 Not sure why my post has been moderated but no matter.Everyone at NW has the address [email protected] (except the hapless Mr Beale now of course, ha ha ha) so if you happened to want to email someone called say Jane Print, I'm sure you can work it out for yourself [;-)] Link to comment Share on other sites More sharing options...
Russethouse Posted September 18, 2010 Share Posted September 18, 2010 In the news today : http://www.bbc.co.uk/news/business-11344048Doesn't look like they'll be changing their minds any time soon. Link to comment Share on other sites More sharing options...
bubbles Posted September 18, 2010 Share Posted September 18, 2010 Have any of you NW customers actually been informed yet of their intentions to start charging for withdrawals abroad?I haven't. Link to comment Share on other sites More sharing options...
elamessa Posted September 18, 2010 Share Posted September 18, 2010 [quote user="bubbles"]Have any of you NW customers actually been informed yet of their intentions to start charging for withdrawals abroad?I haven't.[/quote]I received notification last month at my French address about the changes to the Flex account stating that from the 1/11/10 they will be charging for withdrawals. Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now